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Smart TV Sticks Market Size To Reach $45.87Bn By 2030

Smart TV Sticks Market Size To Reach $45.87 Billion By 2030

January 2025 | Report Format: Electronic (PDF)

Smart TV Sticks Market Growth & Trends

The global smart TV sticks market size is anticipated to reach USD 45.87 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.7% from 2024 to 2030. Factors such as ability to provide OTT content, IoT enabled smart homes, changing home entertainment concept, and penetration of broadband are some of the primary factors driving the global market.

Smart TV sticks are providing the consumers with entertainment content of their choice from the leading providers such as Netflix, HULU, and Amazon Prime. In U.S., smart TV sticks/box holds 70.0% share among other streaming devices such as smart TVs, game console, set top box, and internet blue ray player.

North America is an early adopter of technology, therefore it occupies a large share in the global industry. Increased adaptation of smart connecting devices, broadband penetration, and OTT content have been some of the driving factors in this region. On an average, a single U.S. home has viewership of approximately 49 hours across the month, which is the highest of all countries. Prominent penetration of this market has been boosting the growth of the U.S. smart television stick industry.

Hypermarket and supermarket held the largest share of 48.0% in 2018. For instance, Chroma is the leading retailer of consumer electronics in India with 125 stores in 28 cities in India, offering a variety of smart TV sticks. The online distribution channel is expected to expand at the highest CAGR of 8.6% from 2019 to 2025, owing to an increase in the number of internet users, fast paced lifestyle, ease of internet access, and penetration of e-commerce among the manufacturers.

Developing countries such as India and China are expected to witness high demand in the coming years. China is likely to register the highest CAGR of 9.2% from 2019 to 2025. Growing consumer inclination towards the western entertainment content in these countries is the prime factor driving the market in this region. Modernization of network infrastructure, along with easy availability of high quality broadband service, has accelerated the demand for live streaming, thus spurring the growth of the smart TV stick market in Asia Pacific. For instance, according to Business Line, the 5G technology has been standardized to work on all bands in India.

The industry is dominated by leading players such as Amazon.com, Inc.; Roku, Inc.; Google; Apple Inc.; Sky PLC; ASUSTeK Computer; Shenzhen Rikomagic Tech; Dongguan Sonicway Electrical Appliance; Shenzhen Tomato Technology; and CloudWalker Streaming Technologies.

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Smart TV Sticks Market Report Highlights

The electronic stores channel dominated the market with a revenue share of 37.5% in 2023. Electronic stores offer hands-on experience, allowing customers to physically interact with smart TV sticks before making a purchase.
The online channel is expected to grow at the fastest CAGR of 5.8% over the forecast period. The rise of e-commerce giants such as Amazon, Flipkart, and others has also played a crucial role in this growth. North America held the largest share in the global market.
The North America smart TV sticks market dominated the global market with a revenue share of 42.0% in 2023.